Posted on 10/10/2005 11:22:42 AM PDT by janetjanet998
NEWBERRY, S.C., Oct. 10 /PRNewswire-FirstCall/ -- In response to increased customer demand in North America, Caterpillar Inc. (NYSE: CAT - News) will open a new electric power manufacturing facility in Newberry, South Carolina.
There are strong global growth opportunities for Caterpillar in the electric power industry, and the opening of this facility in South Carolina is part of our strategy to further strengthen our worldwide leadership position in this industry," said Bill Rohner, Caterpillar vice president with responsibility for the Electric Power Division.
Diesel and gas powered generator sets will be assembled at the Newberry operation. The 10-200 kW range products will be sold to North American customers. These gensets are typically used as backup power for smaller retail operations, homes, farms and in municipal applications.
Currently these electric power products are produced at a manufacturing facility in Larne, Northern Ireland. The Larne facility will continue to produce generator sets as part of Caterpillar's wholly owned FG Wilson electric power business.
"By moving the production of these smaller gensets to North America, Caterpillar will be better positioned to quickly respond to customer demand for electric power in this important region," Rohner said. "The decision will also free up additional capacity in Larne so we can continue to support growing demand for electric power solutions to our customers in Europe, Africa, the Middle East and Asia."
The production operation will be located in a Caterpillar owned building in Newberry that was completed in 1998 but has remained largely vacant since that time. Caterpillar has maintained a presence in Newberry with a small number of Caterpillar employees providing customer support for North American dealers and Caterpillar's Electric Power Division. It is anticipated the larger Newberry facility will open in the first half of 2006, with first-year employment at the facility expected to be about 70 people.
"I want to thank Caterpillar for locating in South Carolina and thank Commerce for its continued work in securing this project," said Gov. Mark Sanford. "We're going to continue working to attract world-leading companies like Caterpillar, which starts with improving our underlying business climate through changes like further income tax relief so that we have the tools we need to attract jobs and capital investment."
Commerce Secretary Bob Faith said, "To build Caterpillar quality products, South Carolina is pleased to offer this company an excellent location and a work force second to none. The South Carolina Department of Commerce, Central SC Alliance, and the Newberry County Development Board actively worked as a team and worked with Caterpillar to make today's announcement a reality. I can't thank these groups enough for their diligence and determination to bring home quality jobs to South Carolina."
"We are thrilled to have Caterpillar announce plans to open this facility in Newberry County, and we welcome the company as the newest business member to our community," said Newberry County Council Chairman Mike Hawkins.
Caterpillar currently manufactures engines and components for Caterpillar machines at facilities in Greenville and Sumter, South Carolina.
"Newberry county and the entire region has worked closely with Caterpillar and the state to make this day possible, and everyone involved looks forward to the day in the near future when this facility is producing generator sets," said George J. Bullwinkel, chairman of the Central South Carolina Alliance. "We look forward to visiting the FG Wilson facility in Larne next week to learn more about generator set production."
Caterpillar's Electric Power Division includes global design, packaging and marketing responsibilities for Caterpillar electric power generation products, including U.S. operations in Illinois, Indiana and Georgia and international operations in Northern Ireland, India, China and Brazil. The Electric Power Division includes products branded with the FG Wilson, Olympian and Caterpillar names.
For 80 years, Caterpillar Inc. has been building the world's infrastructure and, in partnership with its worldwide dealer network, is driving positive and sustainable change on every continent. With 2004 sales and revenues of $30.25 billion, Caterpillar Inc. is a technology leader and the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.
CAT=huge growth in the next 20-30 years as the world builds up infrastructure..power needs, roads, remanufacturing(recycling), logistics, and they continue to buy up smaller companies in China..oh and when the earth is done building up..they are working with NASA to develop construction equipment for the Moon.
Plus natural disasters such as Hurricans and earthquakes don;t hurt either
Why can CAT do so well and crush the cheaper international competetion but the US auto makers cannot?
Why indeed.
Why indeed.
Because People remember owning American Cars in the eighties.
There were too many poorly built American Cars rolled off assembly lines during that decade, and that still gives buyers pause.
Very, very good company.
This is awesome.
I'm posting on another thread about GM's Delphi going bankrupt and there are the usual posts about how it's all the union's fault. Employees are lousy, and paid too much, and this gem:
"Frankly, I don't have much sympathy for people who only work a 40 hour week and have lots of time for personal activities."
I would hope that the appropriate people take note of CATs direction, and success.
don't kid yourself, CAT builds a lot of stuff outside the US then brings it here
Cat can't book orders fast enough. Their operations are booming. They are competitive (in part because they aren't paying UAW types not to work). A lesson for all american business.
The Presbyterian Church USA is deeply saddened by this news. At least the Taco Bell boycott is over.
but they continue to expand and gain market share, and are making record profits..profits will be close to 800 million this quarter alone and about 2.8 billion for the year and should continue to climb reaching almost 4 billion a year in 2010..
They are also getting into other sectors such as re-manufacturing engines and other parts for auto industry(recycling)..also their ACERT engine technology is amazing(emission free Diesel engine) and many of their generator sets run on cheap clean natural gas..they are really a "green company"
Plus they are now opening up and running HUGE power plants in third world contries(so like a utility) and they have their own very profitable bank
and to top it off they now have 380 Cat rental stores in north America alone and many more opening up overseas..they just opened their first one in India
oh and their Logistic business does work for over 60 other comanpies including the US navy.. They have a supply chain that spans the globe
I researched this company ad made an investment a few years ago,,since then the stock has tripled, split once and the dividend nearly doubled..and the growth is just getting started
but they export much much more...they only thing they bring in are some engine castings from mexico ...they contunie to expand product lines and are hiring like mad here.. orders on some models are booked until mid 2006
Can't be said often enough or loud enough - we love CAT in the Midwest.
forgive me for disagreeing but I've sat and watched as CAT heavy equipment was discharged from vessels originating from South America - that means they were imported
granted I dunno the story behind those shipments but that's what I've seen
Great news for American workers and American companies!
But they make their engines in at the HUGE plants just north of peoria in Mossville Illinois(and SC,NC)..they make their larger generator sets in Lafyeate Indiana(and GA), Wheel loaders and excavators in three huge 275,000 sauare ft plants in Aurora Illinois which employs 3500 people, they make their dumps trucks and mining equipment in Decatar Illinois, i forget what they make at the`Pontiac Illinois`plant and of course they make the classic dozers at their orginal plants in east Peoria Illinois..also they make transmissions in east Peoria and Dyresburg TN, and they have a foundry for engine heads and blocks just south of peoria
and i know they export finished products from those plats overseas so it wouldn't make sense to import them
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